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Comparison

Side-by-side payments and cash to close

Lowest monthly: Assumable Loan

Total monthly

Payment stack including taxes, insurance, and HOA

Cash to close

Down payment / equity bring-to

Detail
Assumable Loan
Assumable · FHA
Assumable Loan + Second
Assumable · FHA
Current Market Conventional
New · Conventional
Loan amount$290,544$290,544$382,500
Remaining term (yrs)24.124.130.0
Secondary amount$0$91,956$0
Funding fee$0$0$0
Note rate2.78%2.78%7.18%
Blended rate3.63%4.921%7.42%
1st payment$1,376.95$1,376.95$2,591.19
2nd payment$0.00$689.67$0.00
Taxes / mo$253.50$253.50$253.50
Insurance / mo$150.00$150.00$150.00
MI / mo$237.98$237.98$76.50
HOA / mo$400.00$400.00$400.00
Total monthly$2,418.43$3,108.10$3,471.19
Cash to close$134,456$42,500$42,500